ACRA has confirmed the credit rating of Tambov region and its bonds at BBB+(RU), forecast “stable”
Rating Agency ACRA has confirmed the credit rating of Tambov region and its bonds at BBB+(RU), forecast “stable, according to a press release from the Agency.
“The credit rating of the Tambov region is due to the limited flexibility of budget expenditures, low level of liquidity and counter-cyclical economy. The rating is lagging behind srednekraevogo level indicators of development of regional economy” – said in the release.
According to analysts of ACRE, the ratio of debt and current income area on the end of 2019 amounted to 46.8%. At the end of 2020, according to ACRA, this ratio will increase to 50.4%.
As of April 1, the public debt of the Region was represented by government securities (up 41.3%), budget (34.3 percent) and Bank loans (24.4 percent) and amounted to 19.6 billion rubles.
“At the beginning of 2020, the maximum amount of payments/refinancing of debt (27%) accounted for 2022. As 01.04.2020 the maximum amount of payments/refinancing accounted for 2020 (subject to budgetary loans, which, as expected, do not have to repay this year, and credit UFK). In the next three years the region will have to repay or refinance two-thirds of the debt,” – say experts of the Agency.
The area in the treatment of three issues of bonds by 8.1 bn.